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A Light Bid Early In Asia As Crude & E-minis Move Lower

BONDS

Core FI markets are seemingly drawing support from cross-market matters, with WTI crude futures on the defensive during post-settlement/early Asia trade, with the latter trading ~$2.50 below settlement levels at typing. The move in oil was seemingly owing to reports of a surprise and relatively large build in headline crude stocks in the latest weekly API inventory estimates, which was also coupled with a surprise build in gasoline stocks, per the same reports. Elsewhere, a downtick in e-minis (recession worry or crude linked) is also providing some light support to the space. In the U.S. Tsy space, TYU2 futures haven’t challenged Wednesday’s highs as of yet, while Aussie bond futures trade has seen YM & XM capped by their respective overnight highs.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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